Beck Mack & Oliver LLC held its stake in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,056 shares of the bank’s stock at the end of the second quarter. Beck Mack & Oliver LLC’s holdings in Bank Of New York Mellon Corporation (The) were worth $2,401,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in BK. Vanguard Group Inc. increased its stake in shares of Bank Of New York Mellon Corporation (The) by 3.0% in the first quarter. Vanguard Group Inc. now owns 66,349,379 shares of the bank’s stock valued at $3,133,681,000 after buying an additional 1,905,810 shares during the last quarter. BlackRock Inc. increased its stake in shares of Bank Of New York Mellon Corporation (The) by 2,064.6% in the first quarter. BlackRock Inc. now owns 57,741,220 shares of the bank’s stock valued at $2,727,121,000 after buying an additional 55,073,730 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Bank Of New York Mellon Corporation (The) by 11.6% in the first quarter. Geode Capital Management LLC now owns 10,413,009 shares of the bank’s stock valued at $491,122,000 after buying an additional 1,085,595 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Bank Of New York Mellon Corporation (The) by 8.6% in the first quarter. JPMorgan Chase & Co. now owns 9,807,053 shares of the bank’s stock valued at $463,187,000 after buying an additional 780,125 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in shares of Bank Of New York Mellon Corporation (The) by 0.5% in the first quarter. Clearbridge Investments LLC now owns 9,518,101 shares of the bank’s stock valued at $449,540,000 after buying an additional 51,390 shares during the last quarter. Hedge funds and other institutional investors own 82.02% of the company’s stock.

Bank Of New York Mellon Corporation (NYSE:BK) opened at 52.83 on Tuesday. Bank Of New York Mellon Corporation has a one year low of $38.68 and a one year high of $54.59. The stock has a 50 day moving average price of $52.53 and a 200-day moving average price of $48.60. The firm has a market capitalization of $54.58 billion, a PE ratio of 15.67 and a beta of 1.15.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last issued its quarterly earnings data on Thursday, July 20th. The bank reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.04. Bank Of New York Mellon Corporation (The) had a return on equity of 10.35% and a net margin of 23.35%. The company had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter in the previous year, the company posted $0.76 earnings per share. The business’s revenue was up .4% on a year-over-year basis. On average, equities analysts forecast that Bank Of New York Mellon Corporation will post $3.53 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Tuesday, August 1st were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date was Friday, July 28th. This is a boost from Bank Of New York Mellon Corporation (The)’s previous quarterly dividend of $0.19. Bank Of New York Mellon Corporation (The)’s payout ratio is currently 28.40%.

Bank Of New York Mellon Corporation (The) announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $3.10 billion in shares. This repurchase authorization authorizes the bank to purchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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Several analysts recently weighed in on BK shares. Rafferty Capital Markets restated a “buy” rating and set a $53.00 target price on shares of Bank Of New York Mellon Corporation (The) in a research note on Tuesday, April 25th. Bank of America Corporation reiterated an “underperform” rating and issued a $49.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, May 26th. BidaskClub downgraded Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Deutsche Bank AG raised their price objective on Bank Of New York Mellon Corporation (The) from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $53.12.

In related news, Vice Chairman Thomas P. Gibbons sold 184,380 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $53.95, for a total value of $9,947,301.00. Following the completion of the sale, the insider now directly owns 455,927 shares in the company, valued at $24,597,261.65. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Trian Fund Management, L.P. sold 10,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $53.09, for a total value of $530,900,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,885,099 shares of company stock valued at $578,623,062. Corporate insiders own 3.60% of the company’s stock.

About Bank Of New York Mellon Corporation (The)

The Bank of New York Mellon Corporation is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.

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Institutional Ownership by Quarter for Bank Of New York Mellon Corporation (The) (NYSE:BK)

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